this post was submitted on 04 Nov 2023
163 points (77.1% liked)

World News

39110 readers
2470 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 38 points 1 year ago (1 children)

Doesn't the US literally have the vast majority of the world's original gold reserves from the bretton woods agreement before Nixon abolished the gold standard?

[–] [email protected] 6 points 1 year ago* (last edited 1 year ago) (1 children)

possession /= property. During Bretton-woods everyone deposited their gold in the US.

The US own around 8.1k tonnes, EU member states 11.7k, Switzerland another 1000.

Germany has the 2nd largest reserves by country (after the US), 3300 tons, and has been bringing gold physically home, completely emptying Paris' vault, moving 500t from New York to Frankfurt, London stayed about stable.

You now might be asking yourself "how the fuck do they transport 500t gold across the Atlantic" and the answer is: Nobody knows. The Bundesbank isn't saying a thing short of that the gold went to Switzerland to be analysed and re-melted. It's not much volume-wise though, about 9m^3^. My best bet is submarine to Germany's north coast, then an inconspicuous train to Switzerland (it's not like German subs can't operate in shallow water but the Rhine, nope).

[–] [email protected] 3 points 1 year ago

Could have also used a transport barge, they're apparently the most efficient means of shipping materials over long distances, granted this is primarily over river conditions.